Examples of Existing Annual Caps in a sentence
Reference is made to the announcement of the Company dated 27 November 2015 and the circular of the Company dated 23 December 2015 in relation to, among other things, the Existing Continuing Connected Transactions contemplated under the Heat Supply Agreements, the Property Management Agreements and Kingdom Guorui Sales Office Management Agreement, and the respective Existing Annual Caps for each of the Existing Continuing Connected Transactions.
The Company confirms, as of the date of this announcement, the transaction amounts under the Existing CCT Agreement have not exceeded the Existing Annual Caps.
Accordingly, the revision of the Existing Annual Caps and the New Annual Caps were exempt from the independent Shareholders’ approval requirements.
In order to ensure the Company’s compliance with the Listing Rules, the Directors consider that it would be necessary to further revise the Existing Annual Caps.
The Board further confirms that, as at the date of this announcement, the Existing Annual Caps have not yet been exceeded.